Samsung Electronics co-CEO Han Jong-hee has passed away at the age of 63 due to a heart attack, leaving Jun Young-hyun as the sole CEO of the company. Han’s demise comes as a shock, especially since Jun was appointed as co-CEO just last week at Samsung’s annual shareholders meeting.
Han was in charge of Samsung’s consumer electronics and mobile devices division, playing a crucial role in shaping the company’s global influence in the TV business.
His absence may have a long-term impact on Samsung’s business strategy, particularly in areas like marketing. Under Han’s leadership, Samsung faced significant challenges, including weak earnings and a sagging share price.
The company has been struggling to keep up with rivals in advanced memory chips and contract chip manufacturing, which have seen strong demand from AI projects.
Samsung has also lost its smartphone market crown to Apple.Jun Young-hyun, now the sole CEO, has a daunting task ahead of him. He will need to navigate the company through these challenges and find ways to revamp its underperforming chip business. Samsung’s chairman, Jay Y. Lee, has been exploring new opportunities, including expanding the company’s presence in the automotive electronics market.
